Hi BP.I have a tenant who has NOT paid rent for this month (August), rent is due 1st of every month according to lease agreement.

It passed re-inspection but they only paid me for 1 month.

If they are wrong, well, you can buy that deal from them (or their lender after they foreclose) a year or two or three from now for less than they paid...By the way, there is nothing wrong with buying a single family home or duplex--my first deal was a mobile home. 

The second draw is paid when we arrive on site and start physical work .

So, if your property has all bills paid by the tenant, you will deduct from the voucher amount the set amount by bedroom count for items like water, electric, gas, etc.

The current owner is letting me take over the property as a tenant as long as I pay the water bill and the mortgage payment on it and whenever I decide I can purchase property for the balance of the mortgage  they are in no hurry for me to purchase the home as long as the mortgage is paid. 

It was a risk but thankfully paid off for me.

Signed and paid for appraisals 12/10/2021.

We screen heavy and have never not got paid.

therefore the leveraged appreciation should be profit and the equity pay down is profit (seeing the mortgage was paid via the tenant’s rent).